Data management is the process of collecting, organizing, and analyzing data from multiple sources. It allows businesses to control their data for various use cases, such as segmenting customers by purchase history. To ensure compliance with government and industry regulations on data security, privacy, and use, data managers must be appointed to help ensure that data is managed properly. Data management tools are available to help businesses manage their data.
These tools can be used to create a central master data record, consolidate data into useful reports, and create visualizations that allow users to contextualize the data. Data virtualization is another integration option that uses an abstraction layer to create a virtual view of data from different systems for end users. Organizations must invest in data management solutions that can deliver all the results they need to successfully manage and use data. Big data is the backbone of modern businesses, but before it can be used, it must be properly managed.
The DMPTool tool provides templates for various funding sources and can be used to create a Data Management Plan (DMP). Data management is directly related to data quality, which must be irrefutable for any data analysis effort to bear fruit. It should also be auditable in a way that easily demonstrates compliance to regulators and business partners. Data management plans should be useful for business operations and should follow the specific guidelines of the funding agency you are working with.